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Glossary
- Version
- 1.0
- Effective
- 2026-09-06
- Last updated
- 2026-09-06
Terms
| Term | Meaning |
|---|---|
| Arc | The blockchain network this protocol is deployed on. Currently Arc Testnet. |
| USDC | The stablecoin used as collateral, with 6 decimals. Also used to pay gas on Arc. |
| Market | A binary YES/NO question with rules, a closing time and a resolver. |
| Outcome token | A conditional token representing one side of a market; redeems for $1.00 of collateral if it wins. |
| Conditional Tokens | The Gnosis token framework used to mint and redeem outcome positions. |
| FPMM | Fixed-product market maker: the pricing curve that quotes YES and NO. |
| Implied probability | The YES price read as a percentage chance. |
| Price impact | How much your own trade moves the price against you. |
| Slippage tolerance | The worst fill you will accept before the trade reverts. |
| Liquidity | Collateral in the market's pool available to trade against. |
| Creation bond | USDC a creator posts when deploying a market, per protocol configuration. |
| Resolution bond | USDC posted to propose or challenge an outcome. |
| Challenge window | The period during which a proposed outcome can be disputed. |
| Invalid market | A market that cannot be objectively resolved and settles under protocol rules. |
| Redeem / claim | Exchanging winning outcome tokens for USDC after finalisation. |
| Creator fee | 0.25% of applicable trading volume accrued to a market's creator. |
| Protocol fee | 1.00% of applicable trading volume accrued to the protocol. |
| Liquidity fee | 0.25% of applicable trading volume retained in the market pool. |
| Non-custodial | You keep your keys; the interface never holds your funds. |
| Permissionless | No approval is needed to create a market or to trade. |